Ericsson signs MoU with MTN.(SWEDEN)(Telefonaktiebolaget LM Ericsson)(memorandum of understanding)(Brief article)

European Telecom, March, 2007

Ericsson has signed a Memorandum of Understanding (MoU) with MTN for expanding the latter's network operations in the Middle East and Africa.

This agreement, which is worth $300 million, will focus on the expansion of the network operations for Ericsson and MTN in Africa and the Middle East. Ericsson's vice president and MCA head, David Clayphan, said that this deal is a reflection of the fact that the partnership of the two companies has grown stronger over the past 14 years. MTN's group COO, Sifiso Dabengwa, said that the relationship has become more fruitful because Ericsson has proved itself to be a very good technical partner.